#6 - Alarm.com (NASDAQ:ALRM)
Home security is becoming one of the most significant home improvement projects that homeowners undertake. Many younger home buyers have grown up in smart homes and are comfortable with the idea of monitoring their house anytime, anywhere. And that is stoking the demand for products such as those offered by Alarm.com (NASDAQ:ALRM).
In its last quarter, the company showed strong year-over-year (YOY) revenue growth. However, that didn’t translate to the bottom line, which posted only a one cent YOY increase. Some of this may have been due to the pandemic. But the lasting effects from the slowdown may be on the commercial side of the business. The company reports a strong increase in U.S. residential demand since the lockdown measures have eased in many states.
ALRM stock is up nearly 40% for the year, and the consensus price target from nine Wall Street analysts suggests the stock has an upside of over 12% from its current level.
About Alarm.com
Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.
Read More - Current Price
- $62.95
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $64.40 (2.3% Upside)
